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Guest: Liam Denning

Liam Denning is a Bloomberg Gadfly columnist covering energy, mining and commodities. He previously was the editor of the Wall Street Journal’s “Heard on the Street” column. Before that, he wrote for the Financial Times’ Lex column. He has also worked as an investment banker and consultant.

On Twitter: @liamdenning

On the Web:  Liam’s Bloomberg Gadfly column

Liam Denning is featured in:

Latest

[Episode #165] – Oil & Gas in Transition

Feb 2 2022

Mini Episode

Oil prices are at a 7-year high, with demand getting back toward pre-pandemic levels as the world attempts to restore economies from the impacts of covid. Oil & gas companies are feeling bullish for the first time in years, forecasting strong demand for their product for decades to come, despite the pressures of energy transition and increasingly strong climate policies. In fact, they’re bold enough to blame high oil and gas prices on the energy transition, and using those prices as an argument against it. So are they right? Or are they simply in denial about the future of their business?

In this episode, Bloomberg energy opinion columnist Liam Denning returns to sort through the various factors that are working for and against continued investment in the oil and gas sector, to understand just how much the energy transition is affecting the ever-changing outlook for their business. We also discuss the tight and delicate balance between supply and demand at this point in time, and consider where it might be going in the coming years, particularly in light of climate policy targets.

This is our deepest dive into oil and gas to date, so don’t miss it!

Geek rating: 8

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[Episode #120] – Carnage in the Oil Patch

Apr 29 2020

Mini Episode

The coronavirus shutdown has taken a huge bite out of demand for oil since everyone has been forced to stay home. Exacerbated by a pricing war between Saudi Arabia and Russia, oil prices have crashed to levels not seen in nearly two decades, and oil producers are losing money hand over fist. Not only will this oil crash have wide-ranging effects on the oil industry, it will also have huge impacts on the budgets of oil-exporting countries, the economy as a whole, and the prospects for energy transition.

Can the world get past the economic impacts of the coronavirus? If it does, will oil demand recover to previous levels, or will it be permanently reduced? Which oil producers will survive this period, and which ones will go bankrupt and be swallowed up by larger rivals? And how much market share might the rivals of oil—especially rivals like electric vehicles—pick up in the aftermath of the shutdown?

To help us sort through this incredibly complex picture, Bloomberg’s Liam Denning returns to the show for a 90-minute deep dive into oil prices, supply, demand, the outlook for the world’s producers, and the outlook for the world in this episode.

Geek rating: 7

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[Episode #67] – Transition’s Disruptors Part 2

Apr 18 2018

Mini Episode

What do the frackers and Tesla have in common? They have both succeeded in disrupting their industries by adopting new technologies, applying financial innovation, appealing to changing consumer preferences, and taking advantage of (or disrupting) their regulatory environments. Indeed, these disruptive forces are in play throughout the energy transition, and whether it’s electricity, or heat, or mobility, the outcome is generally the same: nimbler, more efficient, cleaner, and safer upstarts steal away market share from rent-seeking incumbents who control captive markets. The transition upstarts are hot; the moguls of oil provinces and monopoly utilities are not.

This is Part Two of a sprawling discussion that lasted over two hours with veteran energy, mining and commodities analyst Liam Denning of Bloomberg. We explore the ways in which these disruptive forces are working for transition and the risks that the incumbents face…and how to spot the winners and losers of energy transition from a mile away. In this episode, we talk about changing consumer preferences, the role that regulations play in alternately supporting and stymieing disruptors, and how the falling cost of energy as more renewables come into the system will affect energy markets and business models.

Part One of this interview was in Episode 66.

Geek rating: 5

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[Episode #66] – Transition’s Disruptors Part 1

Apr 4 2018

Mini Episode

What do the frackers and Tesla have in common? They have both succeeded in disrupting their industries by adopting new technologies, applying financial innovation, appealing to changing consumer preferences, and taking advantage of (or disrupting) their regulatory environments. Indeed, these disruptive forces are in play throughout the energy transition, and whether it’s electricity, or heat, or mobility, the outcome is generally the same: nimbler, more efficient, cleaner, and safer upstarts steal away market share from rent-seeking incumbents who control captive markets. The transition upstarts are hot; the moguls of oil provinces and monopoly utilities are not.
This is Part One of a sprawling discussion that lasted over two hours with veteran energy, mining and commodities analyst Liam Denning of Bloomberg. We explore the ways in which these disruptive forces are working for transition and the risks that the incumbents face…and how to spot the winners and losers of energy transition from a mile away. In this episode, we talk about the roles of technological and financial innovation. Part Two of this interview will air on Episode 67.

Geek rating: 5

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